Seaborne metallurgical coke prices, delivered to India from different originating countries, continue to rise higher as the global supply shortage is still showing no signs of easing.
CoalMint currently assesses the spot blast furnace met coke price for the 64% CSR grade at $371/t CNF India, up 7.5% month-on-month compared with $ 345/t as on 4th Dec’20.
The 62% CSR grade BF metcoke is currently assessed at $362/t CNF India — up by 7.7% as against $336/t on 4th Dec’20.
Sustained supply tightness coupled with robust restocking demand from Chinese steelmakers has pushed up seaborne met coke prices to higher-than-expected levels.
Met coke import prices are rising steadily across major originating countries in the Asia-Pacific region, owing to increased import demand from Chinese buyers, competing with Indians for supplies from Poland, Japan, and Colombia. Some of the Chinese buyers have even booked met coke cargoes from Indian suppliers with late-January and February laycan.
The ongoing supply tightness is predicted to last throughout the present quarter, as supported levels of steel production are expected to continue supporting coke demand and prices thereof.
Indian met coke import demand buoyed by steady steel production levels
The Indian spot demand for imported met coke has remained stable amidst the steady recovery in demand growth from the domestic steelmaking industry as the country’s largest steel producers have pushed up their blast furnace production operations to optimum capacity levels.
Indian domestic prices for blast furnace grade met coke have also continued rising amid aggravated concerns on limited availability.
India’s domestically produced met coke prices (ex-plant) for the 25-90 mm, blast furnace grade are currently assessed at around INR 27,000/t (east coast) and INR 27,500/t (west coast).
India Coal Import Vessel Lineup
CoalMint’s latest vessel lineup data (as on 2nd Jan’21) reveals that an aggregate shipment volume of 140,852 t of imported met coke has arrived at different Indian ports last week – 49,482 t at Vizag, 44,000 t at Krishnapatnam port, 24,370 t at Haldia and 23,000 at Paradip.
These inbound met coke consignments have been sourced from different originating countries, viz. China (21,982), Colombia (23,000), Indonesia (27,500 t) and Poland (68,370 t).
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